Monday, 28 February 2011

Turkey: Ankara Faces “Nervous” Economic Times amid Muslim-World Political Turmoil | EurasiaNet.org

Turkish Foreign Minister Ahmet Davutoglu declared a successful end February 28 to what he called "the most comprehensive evacuation operation" in Turkey's history, as the arrival at an Istanbul airport of 132 Turks caught in Libyan fighting pushed the total number of Turks repatriated during the past week to over 17,500.

Unlike some Western governments, Davutoglu's Justice and Development Party (AKP) government has been widely praised in the Turkish media for the speed and efficiency of its rescue operation. But the sheer number of Turks evacuated from Libya carries an ominous message for Ankara, analysts warn: increasingly present as an economic actor in the Middle East and North Africa since the AKP came to power in 2002, Turkey risks being harder hit by the economic side-effects of political instability in the region.

Five years ago, Turkish trade with the countries hit by instability over the past month was worth just US $8.6 billion, with imports outnumbering exports, says Osman Arolat, editor of Dunya, a Turkish business daily. "Since then, trade has gone up by 177 percent, with Turkey exporting US $5.5 billion more than it exports."

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